Jacksonville, FL -- (April 5, 2005) -- Fidelity National Financial, Inc.
(NYSE:FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services ("Fidelity") division today announced that California-based IndyMac Bank(R) F.S.B., a subsidiary of IndyMac Bancorp Inc., has signed a multi-year renewal with Fidelity's Integrated Financial Solutions division for information technology outsourcing services. IndyMac Bank provides FDIC-insured deposit products and services directly to consumers through its Southern California branch network, and nationwide via the Internet and through its call center. The scope of the agreement includes Fidelity's MISER core processing system together with multiple integrated components from the MISER solutions suite including MISER Business Intelligence, online collections and safe deposit box services. A Fidelity client since 2000, IndyMac Bank will use the MISER suite to support its continued growth objectives, with the potential for incorporating more of Fidelity's value-added products into its banking franchise.
"With loan volumes increasing and branch expansion accelerating, our focus remains clearly on our customers," stated Jill Barnes, executive vice president of IndyMac Bank. "Fidelity's suite of solutions is a key component of the infrastructure we have built to maintain this focus and deliver the products and services our customers need to meet their financial objectives."
IndyMac Bank is the largest savings and loan headquartered in Los Angeles County and the 10th largest thrift in the nation, based on assets. Since becoming a depository in July 2000, IndyMac has grown its deposit base from the original $350 million to over $5.7 billion at December 31, 2004. One of IndyMac's strategic initiatives is to expand its Southern California branch network. The bank began the year with 13 branches and has already added four more; with plans to have approximately 25 branches open by year-end.
The MISER suite of solutions offers extensive automation and tightly integrated core banking functionality and delivers mission-critical high volume processing with demonstrated reliability and efficiency. Open, scalable and flexible, MISER is designed to meet both the current and foreseeable needs of financial institutions such as IndyMac, providing a smooth and seamless transition between different operating environments--from outsource to in-house and in-house to outsource--as business requirements change.
"Our commitment to delivering truly open and integrated solutions that support the way financial institutions want to serve their customers is one of the fundamental reasons that many select MISER as their core processing platform," Anthony Jabbour, executive vice president of Fidelity's Integrated Financial Solutions division. "And our ability to help IndyMac Bank translate these solutions into value for both the institution and its customers is one of the fundamental reasons they're broadening their relationship with us. As a result, IndyMac can continue to leverage our broad base of expertise and the flexibility of our technology to quickly and confidently capitalize on the growth opportunities before them--while capitalizing on their industry-wide reputation for delivering customer service excellence."